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Friday, December 18th, 2009 at 7:14 AM

Hammer Time

Posted on Friday, December 18th, 2009 at 7:14 AM in Jim TV, Shadow Inventory | 20 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 20 Responses

  1. Woo hoo! Par taaay!

    Thanks, Jim!

    Rick The Tuna

    Rick | December 18th, 2009 at 7:58 am

  2. It’s funny all this government garbage about how they were going to fix the housing market. And now after all the big players got their money back it all comes down to foreclosures.

    shadash | December 18th, 2009 at 8:08 am

  3. 49 freakin degrees? You TJ adjacent wimps. We had this out my window last week: http://2.bp.blogspot.com/_zqzPMzXNGso/Sx21BrKowsI/AAAAAAAAD2s/EbqidkLEIzI/s1600-h/CRW_4103.jpg

    Anyway that last partygoer had it right. When BofA feels threatened then we’ll get a massive overreaction. Most likely they’ll get a FedGov sponsored good bank bad bank bailout where the bad bank goes into immediate liquidation.

    Rob Dawg | December 18th, 2009 at 8:29 am

  4. Yes – Tacos El Gordo on H-Street in Chula Vista.

    sdduuuude | December 18th, 2009 at 9:21 am

  5. from NMN:

    Private mortgage insurers have stepped up their rejections of claims on defaulted loans, compounding the pain that banks and other lenders have felt from the housing crisis.

    In the second and third quarters, insurers denied 20% to 25% of claims, up from a historic rate of 7%, according to Moody’s Investors Service Inc. Though the insured party is usually Fannie Mae or Freddie Mac, lenders that do business with the government-sponsored enterprises stand to lose when claims are rejected.

    This is because, when insurers deny claims, they also rescind the policies. The mortgages in question typically have loan-to-value ratios above 80%, which means Fannie and Freddie cannot hold them without the insurance. So when insurers cancel policies, the GSEs in turn make lenders buy back the loans.

    Jim the Realtor | December 18th, 2009 at 11:39 am

  6. Amazing sight. I’m sure the pizza place loved the surge of business, too.

    ewhac | December 18th, 2009 at 2:47 pm

  7. Good to see you having fun and stimulating the local economy JTR. Sounds like you were having a great time.

    ice weasel | December 18th, 2009 at 4:09 pm

  8. JtR, good info about insurer denials. Do you know what basis is used for most rejections? Is is suspected fraud, non-qualifing property or borrower, arbitrary BS, etc. ??? What a rip off if borrower paid PMI. Is AIG involved in mortgage insurance? If so, I’m not surprised about rejections and refusal to perform. Their reputation is trashed.

    Desert Realtor | December 18th, 2009 at 5:19 pm

  9. Gordo’s in CV rules–a whole lot safer than going to the original.

    Local Boy | December 18th, 2009 at 5:26 pm

  10. Looks like a fun party! Wish I could have been there. We actually had snow where I live near Walnut Creek Ca. I have been here 40 years and never say anything like it… global warming!

    Irene | December 18th, 2009 at 6:55 pm

  11. 49 degrees? That’s rough. I guess I should feel better about Accuweather describing tomorrow’s Nor’easter impact as merely “very disruptive” rather than “paralyzing” for my area.

    Blissful Ignoramus | December 18th, 2009 at 7:59 pm

  12. Irene, if it’s snowing, then how is that Global WARMING? Sounds like Global COOLING to me.

    Are you another Koolaid drinker at the Al Gore scam of the century?

    Todd | December 18th, 2009 at 7:59 pm

  13. Todd,

    If it is snowing we call that “WEATHER”. The multiple decade trends in global temperature we call “CLIMATE”. Global Warming refers to changes in climate, not weather, although there is the idea floating around that global warming, in the CLIMATE sense, results in more extreme events, both hot and cold in WEATHER. Sorry if your post was sarcastic, many people seem confused by this issue.

    I’d try to tie this concept back to the housing market, but all the analogies I considered don’t really fit very well. What do you think, is there an analog to weather, day to day shifts in house prices, vs climate, multi-year trends in house prices, in the housing market?

    Math in Mira Mesa | December 19th, 2009 at 8:40 am

  14. Todd

    How is Al Gore’s Global Warming a bigger scam than GW’s Weapons of Mass Destruction?

    More dollars spent?

    Anonymous | December 19th, 2009 at 9:14 am

  15. Honestly, the bare stupidity of people amazes me all too frequently.

    ice weasel | December 19th, 2009 at 9:41 am

  16. 49 degrees? My God! That’s almost tepid! :)

    François Caron | December 19th, 2009 at 9:48 am

  17. Todd… It was a JOKE!!! No.. I am not a koolaid drinker. Al Gore and I are not on the same page… Never have been.

    Irene | December 19th, 2009 at 10:52 am

  18. “straight up and down” “that’s how it’s done” – JTR

    Anonymous | December 19th, 2009 at 1:26 pm

  19. Wish I could have joined the party, Jim! I’m sure everyone appreciated the get together.

    jbirdfunk | December 20th, 2009 at 8:54 am

  20. Nice turn out – sorry I missed it!

    ChrisG | December 23rd, 2009 at 8:13 am

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